Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    589 Knickerbocker Ave Brooklyn, NY 11221-4742

    • Apartment buildings
    • 17,485 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2024
    Value Estimations
    $1,140,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3148443
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Alexander Miller DDS PC / Dental Office
    • Samih Attia / Dental Office
    • Fernando Cordero / Dental Office
    • Raisa Sirkovich / Dental Office
    • Samih Abdelmalak Attia / Dental Office

    Property Details for 589 Knickerbocker Ave

    Year built
    1931
    Lot size
    0.06 lot acres
    Property size
    17,485 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    03344-0001
    APU
    33440001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9141
    Latitude
    40.6966
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,063
    $106,650
    $843,300
    $949,950
    -
    $237,000
    $1,874,000
    $2,111,000

    Comparable in this City

    • Value Estimation
      $3,280,000
      57,257 SF

      761 Bushwick Ave

      APARTMENT HOUSE (5+ UNITS) • 57,257 SF
      761 Bushwick Ave, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $1,345,000
      99,040 SF

      200 Palmetto St

      APARTMENT HOUSE (5+ UNITS) • 99,040 SF
      200 Palmetto St, Brooklyn, NY 11221-4768
      View Details
    • Value Estimation
      $12,085,000
      148,000 SF

      942 Dekalb Ave

      APARTMENT HOUSE (5+ UNITS) • 148,000 SF
      942 Dekalb Ave, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $1,795,000
      9,300 SF

      855 Greene Ave

      APARTMENT HOUSE (5+ UNITS) • 9,300 SF
      855 Greene Ave, Brooklyn, NY 11221-1942
      View Details
    • Value Estimation
      $1,405,000
      6,500 SF

      131 Stockholm St, Unit 8

      APARTMENT HOUSE (5+ UNITS) • 6,500 SF
      131 Stockholm St, Brooklyn, NY 11221-3250
      View Details
    • Value Estimation
      $4,775,000
      84,416 SF

      625 Quincy St, Unit 648

      APARTMENT HOUSE (5+ UNITS) • 84,416 SF
      625 Quincy St, Brooklyn, NY 11221-1897
      View Details

    Similar Nearby for Sale

    • $1,690,000
      0.04 Acres

      Mixed-Use Building in Bedford Stuyvesant

      Mixed-use building with retail and residential units in Brooklyn.
      226 Marcus Garvey Blvd, Brooklyn, NY 11221
      View Details
    • $499,000

      Brooklyn Multifamily Property For Sale

      Multifamily property available in Brooklyn, New York.
      101 Linden St, Brooklyn, NY 11221
      View Details
    • $2,100,000

      Bushwick Brownstone Mini-Mansion with Garage

      Restored three-level brownstone with finished basement, garage, and development potential.
      1181 Bushwick Ave, Brooklyn, NY 11221
      View Details
    • $3,850,000
      10,160 SF

      Prime Brooklyn Multifamily Building

      8-Unit Apartment Building, High NOI
      662 Madison St, Brooklyn, NY 11221
      View Details
    • $9,800,000
      15,517 SF

      Bushwick Mixed-Use Investment

      16-unit building, high NOI, strong cap rate.
      1153 Broadway, Brooklyn, NY 11221
      View Details
    • $705,000

      Brooklyn Multifamily Property for Sale

      Multifamily property available in Brooklyn, New York.
      775 Lafayette Ave, Brooklyn, NY 11221
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Brooklyn Apartment for Rent

      Apartment for rent in Brooklyn, NY, priced at $4000.
      1137 Jefferson Ave, Brooklyn, NY 11221
      View Details
    • $2,590 /Mo

      Bushwick One-Bedroom Apartment Rental

      Top-floor, one-bedroom apartment near Central Avenue M station.
      677 Hart St, Brooklyn, NY 11221
      View Details
    • $3,900 /Mo

      Spacious 3-Bedroom with Outdoor Space

      Full-floor 3-bedroom apartment with private outdoor space in Brooklyn.
      730 Monroe St, Brooklyn, NY 11221
      View Details
    • $2,700 /Mo

      Brooklyn Multifamily Property for Rent

      Multifamily property for rent in Brooklyn, NY. No pets.
      668 Greene Ave, Brooklyn, NY 11221
      View Details
    • New
      $2,700 /Mo
      950 SF

      Spacious Brooklyn Apartment Near Transit

      Large 2-bedroom apartment near J and Z train lines.
      1501 Broadway, Brooklyn, NY 11221
      View Details
    • $6,500 /Mo
      2,300 SF

      Brooklyn Retail/Office Space Available

      2,300 sqft retail/office space in high-traffic Brooklyn location.
      1478 Broadway, Brooklyn, NY 11221
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    589 Knickerbocker Ave
    Brooklyn, NY 11221-4742
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.